Tax system deters investors, says BHP chairman

BHP Billiton chairman
Jac Nasser
has called for the review of the Fair Work Act to strike a more appropriate balance between the needs of companies and employees to stem a fall in Australia’s competitiveness.

Mr Nasser also called for more certainty about the taxation system because uncertainty was putting investors off.

“If Australia does not get both of these policy levers right – industrial relations and taxation – we will not drive improvements in economic prosperity that we should expect from our country," Mr Nasser said.

Mr Nasser said he was also disappointed with the emphasis in the federal budget on tax and wealth distribution rather than growth, and that the political debate had become based on class divisions.